Thailand: Market for Toothed wheels, chain sprockets and other transmission elements 2024

Market Size for Toothed wheels, chain sprockets and other transmission elements in Thailand

In 2021, the Thai market for toothed wheels, chain sprockets and other transmission elements increased by 14% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -31.6% against 2018 indices. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Toothed wheels, chain sprockets and other transmission elements in Thailand

In value terms, production of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 61% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Toothed wheels, chain sprockets and other transmission elements

Exports from Thailand

In 2021, exports of toothed wheels, chain sprockets and other transmission elements from Thailand surged to X tons, growing by 83% against the previous year's figure. In general, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the exports of reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for exports of toothed wheels, chain sprockets and other transmission elements from Thailand, with a 40% share of total exports. Moreover, exports of toothed wheels, chain sprockets and other transmission elements to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. The third position in this ranking was held by India (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+2.3% per year) and India (+23.4% per year).

In value terms, Japan ($X) remains the key foreign market for toothed wheels, chain sprockets and other transmission elements exports from Thailand, comprising 27% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.7% share of total exports. It was followed by India, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.7% per year) and India (+5.5% per year).

Export Prices by Country

In 2021, the average export price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, dropping by -31.7% against the previous year. In general, the export price saw a deep slump. The pace of growth was the most pronounced in 2019 an increase of 34%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (-2.5%), while the prices for the other major destinations experienced a decline.

Imports of Toothed wheels, chain sprockets and other transmission elements

Imports into Thailand

In 2021, after two years of decline, there was significant growth in supplies from abroad of toothed wheels, chain sprockets and other transmission elements, when their volume increased by 35% to X tons. In general, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 47% against the previous year. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, imports of toothed wheels, chain sprockets and other transmission elements soared to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of imports of toothed wheels, chain sprockets and other transmission elements to Thailand, with a combined 73% share of total imports. These countries were followed by Indonesia, the United States, Germany, Taiwan (Chinese) and Malaysia, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Germany ($X) were the largest toothed wheels, chain sprockets and other transmission elements suppliers to Thailand, together accounting for 64% of total imports. These countries were followed by the United States, Indonesia, South Korea, Taiwan (Chinese) and Malaysia, which together accounted for a further 25%.

Indonesia, with a CAGR of +20.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for toothed wheels, chain sprockets and other transmission elements amounted to $X per ton, with an increase of 2.4% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 31%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :